KLP Kapitalforvaltning AS Reduces Stock Position in AT&T Inc. (NYSE:T)

KLP Kapitalforvaltning AS reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,460,864 shares of the technology company's stock after selling 155,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in AT&T were worth $97,873,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Next Level Private LLC lifted its holdings in shares of AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after buying an additional 379 shares during the period. Carolinas Wealth Consulting LLC boosted its stake in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after acquiring an additional 384 shares in the last quarter. Kozak & Associates Inc. grew its holdings in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the last quarter. Silver Oak Securities Incorporated increased its position in shares of AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after purchasing an additional 398 shares in the last quarter. Finally, Firethorn Wealth Partners LLC boosted its position in shares of AT&T by 4.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock worth $286,000 after purchasing an additional 399 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

T stock traded up $0.16 during mid-day trading on Thursday, reaching $27.91. The company's stock had a trading volume of 47,307,925 shares, compared to its average volume of 38,215,250. The stock has a market cap of $200.81 billion, a PE ratio of 17.12, a P/E/G ratio of 3.42 and a beta of 0.42. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.98. AT&T Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $29.19. The company's 50 day moving average is $27.79 and its two-hundred day moving average is $26.54.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.98%. AT&T's dividend payout ratio is currently 68.10%.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Tigress Financial upped their price target on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Royal Bank Of Canada boosted their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Finally, Scotiabank boosted their price objective on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average target price of $29.37.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.